FSW WORLDWIDE

[aqsathak]

Hi, I am a CEC & FSW eligible candidate. I was wondering in the current July/Aug all category draws, if I am above the cut off limits, does this mean I will receive an ITA for CEC & FSW or just one? I would assume it makes more sense to apply with ITA for CEC, but would this be a possibility?

 

[GandiBaat]

Hi, I am a CEC & FSW eligible candidate. I was wondering in the current July/Aug all category draws, if I am above the cut off limits, does this mean I will receive an ITA for CEC & FSW or just one? I would assume it makes more sense to apply with ITA for CEC, but would this be a possibility?

If you qualify for CEC, you will get for CEC. It takes first precendence.
If not next you will be matched for FSW.

Your rank will be common, your program (CEC or FSW) will depend upon eligibility with CEC taking priority if you are eligible for both.

 

[aqsathak]

If you qualify for CEC, you will get for CEC. It takes first precendence.
If not next you will be matched for FSW.

Your rank will be common, your program (CEC or FSW) will depend upon eligibility with CEC taking priority if you are eligible for both.

Thanks for clarifying

 

[wonderbly]

Can anybody suggest a real estate website possibly tried and tested to find out decent places to stay in vancouver? The rents looks crazy though thorough out the internet.

It doesn't look crazy. IT IS CRAZY.

 

[navinball]

Its not "Cheap", it is still affordable. Other major Canadian cities are hugely expensive and I do not even live in Vancouver or Toronto.

Homes are not that expensive in Toronto. I own a 6 bed 2 bath home about 30km from the city and it only cost me 800k.

*6 bed means a room with 6 beds not 6 bedrooms.

 

[somenath1061]

It doesn't look crazy. IT IS CRAZY.

has it increased in the recent past?

 

[ElegantVegetable]

Homes are not that expensive in Toronto. I own a 6 bed 2 bath home about 30km from the city and it only cost me 800k.

*6 bed means a room with 6 beds not 6 bedrooms.

Does that mean there are two bath tubs in the bathroom?

 

[cansha]

Does that mean there are two bath tubs in the bathroom?

No it just means there are two different buckets that can be used to fill water for bath.

 

[GandiBaat]

One example of companies snatching up homes in Canada, just for you :
https://www.cbc.ca/news/canada/london/toronto-developer-buying-homes-anti-poverty-group-1.6066903

An anti-poverty group is calling a Toronto-based developer's plan to buy $1 billion worth of single-family homes and turn them into rental properties a "frightening" example of how even more people will be priced out of an increasingly expensive housing market.

The plan, reported by the Globe and Mail on Monday, would see Core Development Group build a single-family home rental business by buying housing stock in medium-sized cities across Ontario, including London, Kingston, Hamilton, Barrie, Cambridge, Peterborough, Guelph and St. Catharines.

The developer wants to expand its footprint outside the province by 2026, to eventually build a fleet of 4,000 rental units in Ontario, B.C., Quebec and Atlantic Canada.

https://www.cmhc-schl.gc.ca/en/media-newsroom/news-releases/2019/analysis-of-new-data-residential-property-and-vacant-land-bc-ontario-nova-scotia

New data from the Canadian Housing Statistics Program (CHSP) shows that individuals own the vast majority of residential properties while non-individuals own less than 10% of residential properties in British Columbia (B.C.), Ontario and Nova Scotia, according to the most recent Housing Market Insight (HMI) released by Canada Mortgage and Housing Corporation (CMHC).

It is worth noting that a number of non-individual owners are at times just indirect ownership using a trust to hide the ownership. Even all of that put together its less than 10% in BC, Ontario and Nova Scotia.

This entire narrative that massive institutional buyers are gobling up real estate in Canada is patently false. Its nothing but Canadian being Canadians. They take out massive loans and are using real estate as some kind of retirement fund or get rich quick scheme.

Its never a good idea to just look at one or two instances but to look at over all picture. Its individual Canadian all along. The article is fairly new, from 2019. Highly doubt anything has changed in past 3 years or so.

It is further corroborated by my observation : When rate of interest goes up, house sales disappears and when it goes down people gobble up houses like it is some kind of ambrosia. This is not a behaviour of deep pocketed institutions. This is behaviour of debt-fueled individuals.

 

[GandiBaat]

Canada is just US lite.

That is not necessarily a bad thing. What is bad is that it is not lite in right places. Its US ++++ in all the wrong places.

 

[ElvisRamaj]

https://www.cmhc-schl.gc.ca/en/media-newsroom/news-releases/2019/analysis-of-new-data-residential-property-and-vacant-land-bc-ontario-nova-scotia



It is worth noting that a number of non-individual owners are at times just indirect ownership using a trust to hide the ownership. Even all of that put together its less than 10% in BC, Ontario and Nova Scotia.

This entire narrative that massive institutional buyers are gobling up real estate in Canada is patently false. Its nothing but Canadian being Canadians. They take out massive loans and are using real estate as some kind of retirement fund or get rich quick scheme.

Its never a good idea to just look at one or two instances but to look at over all picture. Its individual Canadian all along. The article is fairly new, from 2019. Highly doubt anything has changed in past 3 years or so.

It is further corroborated by my observation : When rate of interest goes up, house sales disappears and when it goes down people gobble up houses like it is some kind of ambrosia. This is not a behaviour of deep pocketed institutions. This is behaviour of debt-fueled individuals.

Look @GandiBaat if you don't see a problem that 10% of the residential properties belong to non-individuals, I don't think that any argument from my part will change the flow of the conversation. I'm for absolute zero ownership of residential properties to companies, institutions and foreign individuals for a healthy market to exist. If they enter the market, they will kill it long term and it can take decades for it to be fixed if left unchecked for very long.

The correlation between interest rates and home buying is basically the same in every country. Rates go down, debt and home prices go up (in fact everything goes up) and vice-versa.

Since I am a business administration major, I can go into detail of what a healthy real estate market would look like, but as it is impossible for it to ideally exist (due to political and other reasons), some simple straightforward rules should be applied for it to function properly:

Taxes being proportional to the real estate you own and limits on who can actually own them.

 

[GandiBaat]

Look @GandiBaat if you don't see a problem that 10% of the residential properties belong to non-individuals, I don't think that any argument from my part will change the flow of the conversation.

Well, actually, its LESS than 10% according to the source and many are NOT corporations but trusts. These are NOT businesses but entities used by individuals to hold property and hide ownership. This is a far cry from businesses owning houses.

My biggest gripe is this stupid affordability crisis in Canada which has a minuscule population. If you tell me that 10% of real estate held by non-individuals (NOT necessarily ALL institutional buyers like pension funds) is a significant reason for it, I think I will find it hard to believe. As they say the "Princess is in another castle". The issue is elsewhere.

One can take a position that NO residential property should ever be held by a business and thats perfectly good position, but that will not help in assigning the cause of housing affordability crisis in Canada and massive increase in price of housing.

Also, make no mistake. Commercial ownership of housing --atleast the rental properties, has been around for very long time. The REITs have held a number of rental properties commercially. The housing crisis of 2010s is a much newer phenomenon.

I believe the reason is simple : Canada has a history of holding vast amount of land as crown property -- basically public land. They do not want to release land to allow sufficient supply of real estate. It takes different forms.
Green Belt in Ontario.
BC Crown property.

Only alberta has released sufficient amount of land. No wonder the persistant housing affordability crisis is not really a big thing there.

 

[Simran00]

What's going on with OINP? Also, what do you guys think the new immigration program will be like, will it take quota from fsw program?

 

[DesiPikachu]

Kinda sad my previous post were deleted.

Anyway, what do you guys think of this article:
Moving to Canada was harder than I thought. I'm not sure I'd do it again

 

[cansha]

Kinda sad my previous post were deleted.

Anyway, what do you guys think of this article:
Moving to Canada was harder than I thought. I'm not sure I'd do it again

The crux of the matter is people who are not from IT background would have very different experience in Canada vs people coming in tech sector. Many people from tech sector who move from US to Canada already have substantial savings and even if they have a pay cut compared to their salaries in US; their salaries are still in top 2-5% of Canada.

Most of the struggle stories you will read or listen are primarily from people in a different sector. People who are bankers back home struggle a lot as banks here pay peanuts and banking jobs are so damn hard to get.